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The German sportswear company said Friday that supply chain shortages are making it difficult to meet a sharp increase in consumer demand for its mid-priced apparel. The shortages limited sales growth in the first three months of the year to 4%. Adidas said the issue could knock up to two percentage points off sales growth this year, restricting it to between 5% and 8%.
Increasingly popular Adidas training and running products helped offset weaker demand for football merchandize than last year, when sales were boosted by the World Cup. Reebok, another brand owned by Adidas, was a different story. Its sales were down 6%. Adidas launched a turnaround strategy at the end of 2016, pledging to focus on China, North America and online sales. Friday's strong results for e-commerce and China suggest the strategy is paying off.
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